Market Update (9/01)
Stocks continued to trend higher on Tuesday as the appetite for tech stocks continue. All three major indexes closed higher with the Nasdaq more than 1% higher on the day. Top gainers include Apple (AAPL), Amazon (AMZN) and Facebook (FB). Popular stock, Tesla (TSLA), turned lower after announcing a $5 billion offering, down roughly 5% on the day.
Indexes were bullish to start September. The $DJI closed higher by 0.76% to 28,646.34. The NASDAQ Composite is higher to 11,939.67 up 1.39%. The S&P 500 also closed higher by 0.74% to close Monday at 3526.15.
The InvestorsPrism family of indexes closed the day mixed. The PRISM Emerging Gene Therapy index closed lower by 2.3%, with Homology Medicines (FIXX) and Syros Pharma (SYRS) bucking the bearish trend to close higher on the day. The PRISM Emerging MedCannabis index moved higher by 0.3% led by MediPharm Labs (MEDIF) and Elixinol Global (ELLXF). The small-cap heavy PRISM Emerging MedDevices index fell by 2.1% with Neuronetics (STIM) leading the decliners.
Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index fell by 1.8%, with T2 Biosystems (TTOO) leading the minority of advancers. The PRISM Emerging New Economy index is lower by 0.1%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 0.3%. Tracking emerging biotechs, the PRISM Emerging Vaccines & Cell Therapy index closed lower by 4.8%. Arcturus Therapeutics (ARCT) led decliners closing lower by 12%.
The top commodities were mixed as of 4:00pm est. From Monday’s 4pm price, Crude Oil is higher by eight cents to $42.85 per barrel, Gold lower to $1972.30 per oz., and Silver also just pennies lower to $28.18 per oz.. Bitcoin ($BTC) rallied above $12,000 and stands at $12,002.42 as of 4pm est., a roughly $315 gain compared to yesterday’s 4pm price.
*data as of market close at 4pm est on 9/01/20